Global insurance M&A activity falls to lowest level for a decade

Written by Adam Cadle

26/02/2024

Global insurance M&A activity ended at a ten-year low of 346 deals in 2023, according to Clyde & Co’s Insurance Growth Report 2024.

Deals were down from 449 in the previous year, although activity strengthened in the second half of 2023.

“Private equity backing for deals may be harder to find while interest rates remain high, with those carriers who are capital rich due to prior divestments or careful reserving more likely to move on deals in the coming year,” Clyde & Co said.

The Americas and the MEA region saw the biggest decline in deal numbers from 2022 to 2023, but while the downward trend continued from H1 to H2 in the latter, US deals increased slightly in H2.

The APAC region saw the smallest decline in deal-making year-on-year, however, it came second to the MEA region in terms of the biggest falls in business from H1 to H2.

Deal numbers in Europe rose significantly in H2 2023, up by over a fifth on H1.

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